Equity Incentive And Corporate Social Responsibility From The Perspective Of Executive Power

Under the concept of sustainable development,corporate social responsibility performance is related to the company's own sustainable development,but also to the company's corporate image in society,and even to the survival of the company.The key to whether a company fulfills its social responsibilities is whether the company executives fulfill their social responsibilities,and whether the company executives fulfill their social responsibilities is highly related to the incentive mechanism of the company executives.At present,enterprises generally adopt the method of equity incentives for senior executives.In equity incentives,how to include corporate executives' performance of social responsibility into the evaluation system is a big issue and has important practical significance.Revealing the internal mechanism for corporate executives to fulfill their social responsibilities,analyzing the differences between companies with different ownerships in fulfilling their social responsibilities,and finding out the way to encourage corporate executives to better fulfill their social responsibilities in the incentive incentives.The role of social responsibility needs to study the relationship between equity incentives,executive power,and social responsibility.Based on the principal-agent theory,management power theory and stakeholder theory,this paper explores the mechanism of equity incentives on corporate social responsibility under the effect of executive power regulation,and examines the impact of property rights,industry competition,and corporate life cycle on both.relationship.The following conclusions can be obtained:(1)Equity incentives promote the executives' fulfillment of corporate social responsibility.(2)In the executive power adjustment mechanism,executive ownership power and organizational power weaken the promotion of equity incentives and corporate social responsibility;However,the power of executive experts and reputation strengthens the promotion of equity incentives and corporate social responsibility.In terms of the overall regulation effect of executive power,the promotion effect of the two is strengthened.(3)Compared with non-state-owned enterprises,state-owned enterprise equity incentives have a more significant role in promoting executives' fulfillment of corporate social responsibility.(4)Compared with low-competitive enterprises,high-competitive enterprise equity incentives have a more significant role in promoting executives' fulfillment of corporate social responsibility.(5)Enterprises in growth and maturity periods,equity incentives can promote corporate social responsibility,However,for companies in recession,equity incentives are not conducive to corporate social responsibility.Therefore,the conclusions obtained reveal the internal mechanism of corporate equity incentives for corporate executives to fulfill their social responsibilities.It explains the motivation of corporate executives to disclose corporate social responsibility and the difference between the incentive mechanism and the responsibility fulfillment mechanism in different environments.It provides guidance and reference for building a targeted corporate social responsibility performance model.